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Emirates NBD Says Logs "Robust" Private Banking Results

Tom Burroughes

18 July 2019

The retail and wealth management arm of , the Middle East banking group, said it logged total income of AED3.933 billion ($1.07 billion) in the first half of 2019, rising by 8 per cent on a year ago, driven by growth in net interest income.

Fee income rose by 3 per cent from the same period a year ago, it said in a statement yesterday.

Emirates NBD said this business division "continued to focus on higher value customers". Private banking "delivered a robust set of financials during the first half of 2019, despite a volatile global market environment", it said.

Across the whole group, Emirates NBD delivered a rise in net profit of AED7.5 billion, up by 45 per cent year-on-year. The results include a gain on disposal of a stake in Network International of AED2.1 billion.